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Also known as: Development Foundation
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Machias Savings Bank Community Development Foundation is a private corporation based in MACHIAS, ME. The foundation received its IRS ruling in 1998. The principal officer is Edward Hennessy. It holds total assets of $3.9M. Annual income is reported at $4.2M. Total assets have grown from $752K in 2011 to $3.4M in 2023. The foundation is governed by 11 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. Tax records are available from 2016 to 2023. Grantmaking is concentrated in Maine. According to available records, Machias Savings Bank Community Development Foundation has made 149 grants totaling $1.1M, with a median grant of $5K. Annual giving has decreased from $500K in 2020 to $243K in 2023. Individual grants have ranged from $1K to $205K, with an average award of $7K. The foundation has supported 109 unique organizations. Grants have been distributed to organizations in Maine and Massachusetts. Contributions to this foundation are tax-deductible.
Smallest Grant
$1K
Median Grant
$5K
Average Grant
$7K
Largest Grant
$25K
Based on 22 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Machias Savings Bank Community Development Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 149 grants. Its grantmaking reaches organizations primarily in ME, MA.
Machias Savings Bank Community Development Foundation has distributed a total of $1.1M across 149 grants. The median grant size is $5K, with an average of $7K. Individual grants have ranged from $1K to $205K.
The application deadline is The deadline for applications is May 13th. Grant recipients will be selected by June 11th.. The Foundation only makes grants to qualified 501(c)(3) organizations. A nonprofit may apply for a donation from the Machias Savings Bank and still be eligible for a grant from the Foundation. Awards are generally limited to organizations operating in the service areas of Machias Savings Bank. The Foundation does not award donations to religious or political organizations, unless the programming is for food insecurity or to advance financial health. The Foundation also does not award donations to individuals; parties or events; athletic or travel sponsorships; research or publication; construction or improvement of parks and playgrounds; and any other project that does not meet the Foundation's goals and values for community development. An application form is available on the foundation's website.
Machias Savings Bank Community Development Foundation is headquartered in MACHIAS, ME. While based in ME, the foundation distributes grants to organizations across 2 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Zachary Means | Director | $0 | $0 | N/A |
| Christian A Lyford | Vice President | $0 | $0 | N/A |
| Robert W Foster | Director | $0 | $0 | N/A |
| Luann Ballesteros | Director | $0 | $0 | N/A |
| Brent K Hartley | Director | $0 | $0 | N/A |
| Matthew J Walsh | Treasurer | $0 | $0 | N/A |
| Oliver Smith | Director | $0 | $0 | N/A |
| Donald E Reynolds | Director | $0 | $0 | N/A |
| Telford Allen Iii | Director | $0 | $0 | N/A |
| Lawrence L Barker | Director/President | $0 | $0 | N/A |
| Nathan J Martell | Secretary | $0 | $0 | N/A |
Total Giving
$249K
Total Assets
$3.4M
Fair Market Value
$4.3M
Net Worth
$3.4M
Grants Paid
$243K
Contributions
N/A
Net Investment Income
$247K
Distribution Amount
$198K
Total: $3.2M
Total Grants
149
Total Giving
$1.1M
Average Grant
$7K
Median Grant
$5K
Unique Recipients
109
Most Common Grant
$5K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Community CareProgram Support Grant | Bangor, ME | $5K | 2023 |
| Maine Lobstermen'S Community AllianceProgram Support Grant | Kennebunk, ME | $50K | 2023 |
| Husson UniversityProgram Support Grant | Bangor, ME | $25K | 2023 |
| Foundation For A Strong Maine EconomyProgram Support Grant | Augusta, ME | $15K | 2023 |
| The College Of The AtlanticProgram Support Grant | Bar Harbor, ME | $13K | 2023 |
| The Northern Light House IncProgram Support Grant | Presque Isle, ME | $10K | 2023 |
| Lewiston Chamber Of Commerce FoundationProgram Support Grant | Lewiston, ME | $10K | 2023 |
| Families First Community CenterProgram Support Grant | Ellsworth, ME | $10K | 2023 |
| St George Municipal School UnitProgram Support Grant | Tenants Harbor, ME | $10K | 2023 |
| University Of Maine FoundationProgram Support Grant | Orono, ME | $8K | 2023 |
| Beth C Wright Cancer Resource CenterProgram Support Grant | Ellsworth, ME | $5K | 2023 |
| Adopt-A-Block Of AroostookProgram Support Grant | Houlton, ME | $5K | 2023 |
| Maine Seacoast MissionProgram Support Grant | Northeast Harbor, ME | $5K | 2023 |
| Penquis Cap IncProgram Support Grant | Bangor, ME | $5K | 2023 |
| Port ResourcesProgram Support Grant | South Portland, ME | $5K | 2023 |
| St Andre HomeProgram Support Grant | Bangor, ME | $5K | 2023 |
| Mainestream FinanceProgram Support Grant | Bangor, ME | $5K | 2023 |
| Lubec Community Outreach Center And Food PantryProgram Support Grant | Lubec, ME | $5K | 2023 |
| Jobs For Maine Graduates IncProgram Support Grant | Augusta, ME | $5K | 2023 |
| Town Of DanforthProgram Support Grant | Danforth, ME | $5K | 2023 |
| Preble StreetProgram Support Grant | Portland, ME | $4K | 2023 |
| Portland OvationsProgram Support Grant | Portland, ME | $4K | 2023 |
| Intercultural Community CenterProgram Support Grant | Westbrook, ME | $3K | 2023 |
| Common Threads Of MaineProgram Support Grant | Westbrook, ME | $3K | 2023 |
| Spca Of Hancock CountyProgram Support Grant | Trenton, ME | $3K | 2023 |
| Down East Family YmcaProgram Support Grant | Ellsworth, ME | $3K | 2023 |
| Downeast Community PartnersProgram Support Grant | Ellsworth, ME | $3K | 2023 |
| The Center For The Advancement Of Rural Living (Carl)Program Support Grant | Caribou, ME | $3K | 2023 |
| Maine Development FoundationProgram Support Grant | Hallowell, ME | $3K | 2023 |
| Avesta Housing Development CorporationProgram Support Grant | Portland, ME | $3K | 2023 |
| Big Brothers Big Sisters Of Southern MaineProgram Support Grant | Westbrook, ME | $3K | 2023 |
| Information Technology Exchange Give It Get ItProgram Support Grant | Waterville, ME | $3K | 2023 |
| Woodfords Family ServicesProgram Support Grant | Westbrook, ME | $2K | 2023 |
| My Place Teen CenterProgram Support Grant | Westbrook, ME | $1K | 2023 |
| Lifeflight FoundationProgram Support Grant | Augusta, ME | $1K | 2023 |
| Sunrise County Economic CouncilProgram Support Grant | Machias, ME | $7K | 2022 |